Investment
TEI Goes Shopping in Tenn.
Spanning more than 700,000 square feet in total, Time Equities Inc. expanded its southeastern retail footprint with the $53.5 million acquisition of College Square Mall and Foothills Mall.
Automotive Supplier to Open New Plant in Alexander County
Borealis Compounds Inc. intends to invest $15 million in a production facility in Taylorsville, N.C. The Austrian company will create 37 jobs.
UPS Doubles KS Footprint with $220M Investment
The firm will add 200,000 square feet to its Lenexa, Kan., facility. A second facility in Edgerton, Kan., will add another 197,000 square feet by this fall.
Key International, LBA Hospitality Complete Gainesville Hotel Reno
Hampton Inn & Suites Gainesville-Downtown underwent a $2 million revamp. Key International purchased the asset last year for $27 million.
Global Medical REIT to Buy 2 Hospitals in Sherman, TX
The company will pay $26 million to acquire two medical facilities totaling 81,352 combined square feet, with plans to lease them to current owner SDB Partners.
Skanska Invests $49M in Office Development in Poland
Work at the second phase of Spark, an upcoming three-building office complex located in the center of Warsaw, Poland, is slated to begin this month and to finalize in the first quarter of 2019.
Atlanta-Area Medical Office Buildings Trade for $17M
Developed in 2007, the identical properties are 98.5 percent occupied, with approximately 87 percent of the rentable square footage leased to St. Mary’s Health Care System Inc.
NorthStar, CRL to Buy $390M London Office Asset
The eight-story trophy building located midway between Saint Paul’s Cathedral and Bank of England marks China Resources Land’s first real estate investment in Europe.
Foreign Investor Acquires Long Island Shopping Center
Servicers LNR Partners, a subsidiary of Starwood Property Trust, and C-III Asset Management sold The Mall at the Source and the adjoining Fortunoff Building for $92 million.
Miami Beach Retail Property Trades in $4M Deal
EWM’s Allison Turk worked on behalf of the Canadian buyer, who plans to convert the space into the first U.S. location for Impact Kitchen.